US-based cryptocurrency exchange Gemini has filed a lawsuit against Digital Currency Group (DCG) and CEO Barry Silbert, citing unpaid debts.
Gemini, led by the Winklevoss brothers, has filed the anticipated lawsuit against Digital Currency Group. Announced by Cameron Winklevoss in the caseDCG front cheating customers Unpaid debts were highlighted. Winklevoss also pitted DCG founder Barry Silbert against creditors. Genesis and the architect and mastermind of the DCG scam accused of being
This lawsuit seeks to recover damages and losses suffered by Gemini from the defendants. DCG and Silbert’s false, misleading and incomplete statements about Gemini played an important role in defrauding Genesis and Gemini in the process.
DCG denied
After the lawsuit, the response from the DCG front was quick. Via official social media accounts in the statement located company, Gemini front by advertising campaign blamed.
of the case totally misleading DCG, stating that it is based on the allegations, Continuing to work with creditors And mediation He said the process is nearing the end.
It all started with the Genesis bankruptcy
Genesis, the crypto lending platform under DCG, which was affected by bankruptcies in the crypto money market last year, completely stopped customers’ withdrawals and this was the beginning of a serious tension with Gemini. As a result of Genesis halting operations, Gemini’s To 232K Earn users belonging from $1.2 billion Too many assets were stuck on the platform.
While the Gemini front threatened to sue CEO Barry Silbert multiple times in the process, Genesis had to file for bankruptcy soon after.
Finally Tuesday, July 4 He went to social media and presented his final proposal on the subject. Cameron Winklevossto DCG to accept the deal 6 JulyHe had known until in total $1.46 billion There was no response from DCG to the offer covering the debt.